Important improvement is presented in the financial results of Altec Group for 2006 as it can be depicted from the published financial statements. It is worth mentioning that the majority of financial figures and qualitative indicators are moved upwards. Indicatively we mention the considerable reduction in bank liabilities and the improvement of gross profit margin.

On a consolidated basis, the financial results are the following: The Group after tax profits increased by 25.93% and amounted to Euro 2.72 mil. against Euro 2.16 mil. in 2005. The operating EBITDA amounted to Euro 22.23 mil. from Euro 20.70 mil. in 2005, presenting an increase of 7.37%. Profits before tax increased by 9.13% and amounted to Euro 4.91 mil. in relation to Euro 4.5 mil. in 2005. Total Group sales increased by 8.81% and amount to Euro 195.12 mil. from Euro 179.31 mil. in 2005. Gross profit margin was 29.09% from 26.88%, presenting an increase of 8.22% from the last year. An important development is the reduction of bank loans by Euro 29.53 mil. that is by 19.66%. The reduction of bank liabilities has become one of the basic priorities of management and the first results have already started to show.

COMPANY

Altec turnover amounted to Euro 112.14 mil. against Euro 105.52 mil. in 2005, recording an increase of 6.28%. The operating EBITDA in 31/12/2006 was Euro 14.77 mil. in relation to Euro 16.03 mil. in 31/12/2005, decreased be 7.85%. Profits after tax amounted to Euro 3.46 mil. against Euro 4.34 mil. in 2005, reduced by 20.40%. This reduction is due to the fact that in 2005 the company realized profits from investments of Euro 3.3 mil. but in 2006 they turned to losses of Euro 0.19 mil. The profits before taxes amounted to Euro 4.47 mil. in 2006 in contrast to Euro 6.41 mil. in 2005, presenting a decrease of 30.27%. Gross profit margin increased by 4.21%, as it is 28.39% in 2006 against 27.25% in 2005. Bank liabilities of Altec presented an important reduction, at the same direction as Group bank liabilities, as percentages and amounts. Specifically, loans were reduced by Euro 26.50 mil. that is by 19.27%. During 2006 the distribution activity, an activity of law margins and high risk, was reduced further. It is worth mentioning that there were many delays in the commencement of newly signed contracts due to additional and extended processes.